Friday, November 18, 2016

Catching Congress off guard

What happens during election when Congress is a dead duck?  The lenders hold back the monry bevause Congress is unable to re-price and restructure the budget.  So, the budget constraint is met automatically, with interest payments to lenders, and they set the rate.

So, Congress, sitting on their duff comes into session with another $100 billion due that was not there a month ago.  They will hang, unable to act and Trump deluge of borrowed money gets delayed, I hope.  Otherwise, it is budget cutting timer.

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